Universal Electronics (NASDAQ:UEIC) Upgraded to “Strong-Buy” at StockNews.com

Universal Electronics (NASDAQ:UEIC) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Several other equities analysts also recently weighed in on UEIC. B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $14.00 in a research report on Monday, November 11th. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Friday, November 8th.

Universal Electronics Stock Performance

Shares of Universal Electronics stock traded down $0.20 on Thursday, hitting $11.50. 79,216 shares of the company’s stock were exchanged, compared to its average volume of 62,815. Universal Electronics has a 1 year low of $7.20 and a 1 year high of $14.20. The company has a 50-day simple moving average of $9.87 and a 200-day simple moving average of $10.22. The stock has a market capitalization of $149.82 million, a PE ratio of -5.61 and a beta of 1.20.

Insider Activity at Universal Electronics

In related news, Director Edward K. Zinser sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total transaction of $26,700.00. Following the completion of the transaction, the director now owns 38,062 shares in the company, valued at approximately $406,502.16. This represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul D. Arling sold 13,185 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total transaction of $154,660.05. Following the transaction, the chief executive officer now directly owns 283,615 shares of the company’s stock, valued at $3,326,803.95. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its position in shares of Universal Electronics by 9.1% during the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock valued at $5,804,000 after acquiring an additional 41,795 shares during the last quarter. American Century Companies Inc. raised its position in shares of Universal Electronics by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock valued at $1,927,000 after buying an additional 32,911 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Universal Electronics by 18.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 140,077 shares of the technology company’s stock valued at $1,628,000 after acquiring an additional 21,337 shares during the last quarter. Sei Investments Co. purchased a new position in Universal Electronics in the second quarter worth about $212,000. Finally, Jane Street Group LLC bought a new stake in Universal Electronics during the third quarter worth approximately $163,000. Institutional investors own 79.35% of the company’s stock.

Universal Electronics Company Profile

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.